- Agreement augments Fusion's
existing isotope supply as pipeline of clinical stage
actinium-based radiopharmaceuticals grows
- Furthers BWXT Medical's position as
a global leader in medical isotope supply
HAMILTON, ON, Jan. 5, 2023
/PRNewswire/ -- Fusion Pharmaceuticals Inc. (Nasdaq: FUSN), and
BWXT Medical Ltd., a subsidiary of BWX Technologies, Inc. (NYSE:
BWXT), today announced that the companies have entered into a
preferred partner agreement for the supply of actinium-225. Under
the agreement, BWXT Medical will provide predetermined amounts of
Fusion's actinium supply needs at volume-based pricing.
Actinium-225 is an alpha-emitting isotope used in targeted alpha
therapies (TATs) that combine the isotope with specific
tumor-seeking targeting vectors to kill cancer cells while
minimizing the impact to healthy tissues. There is growing demand
for the isotope but a limited number of suppliers who are currently
able to produce meaningful quantities of high purity actinium.
Fusion Chief Executive Officer John
Valliant, Ph.D., said, "Fusion's portfolio of clinical-stage
targeted alpha therapies is expanding, with three proprietary
programs in clinical trials and additional programs advancing under
our collaboration with AstraZeneca. Based on emerging clinical data
in the literature which show the power of alpha particles over
conventional beta emitters, we continue to proactively prioritize
access to actinium as a critical component of Fusion's development
plans and we are excited to partner with BWXT Medical. As an
established global leader in medical isotope manufacturing and
supply with proven ability to produce high purity actinium, BWXT
Medical has the necessary infrastructure and shipping logistics
capabilities to support both clinical and commercial scale
manufacturing and distribution of medical isotopes. This agreement
increases our existing actinium supply for both current programs as
well as future business development opportunities and partnered
programs, diversifies our supply chain, and establishes a
relationship to collaborate on longer-term commercial production
needs."
BWXT Medical President and Chief Executive Officer Jonathan Cirtain, Ph. D., said, "Excitement for
the potential of targeted alpha therapies to treat cancer is
growing, and we have made the necessary investments in
infrastructure and intellectual property to help meet the
increasing global demand for actinium. BWXT Medical is now
producing high-purity non-carrier added actinium-225. Fusion is a
leading developer of targeted alpha therapies, and we are pleased
to work with them as their clinical programs continue to
advance."
About Fusion
Fusion Pharmaceuticals is a clinical-stage oncology company
focused on developing next-generation radiopharmaceuticals as
precision medicines. Fusion connects alpha particle emitting
isotopes to various targeting molecules in order to selectively
deliver the alpha emitting payloads to tumors. Fusion's lead
program, FPI-1434 targeting insulin-like growth factor 1 receptor,
is currently in a Phase 1 clinical trial. The pipeline includes
FPI-1966, targeting the fibroblast growth factor receptor 3
(FGFR3), advancing to a Phase 1 study following the investigational
new drug (IND) clearance; and FPI-2059, a small molecule targeting
neurotensin receptor 1 (NTSR1). In addition to a robust proprietary
pipeline, Fusion has a collaboration with AstraZeneca to jointly
develop novel targeted alpha therapies (TATs) and combination
programs between Fusion's TATs and AstraZeneca's DNA Damage
Response Inhibitors (DDRis) and immuno-oncology agents. Fusion has
also entered into a collaboration with Merck to evaluate FPI-1434
in combination with Merck's KEYTRUDA® (pembrolizumab) in patients
with solid tumors expressing IGF-1R. Fusion and Hamilton, Ontario-based McMaster University are building a current Good
Manufacturing Practice (GMP) compliant radiopharmaceutical
manufacturing facility designed to support manufacturing of the
Company's growing pipeline of TATs.
About BWXT Medical
BWXT Medical Ltd. manufactures custom radiopharmaceuticals,
radiotherapies and medical isotopes in an 80,000-square-foot cGMP
manufacturing facility in Ottawa
and at the state-of-the-art commercial cyclotron facility within
TRIUMF, Canada's particle
acceleration centre. BWXT Medical Ltd. is a subsidiary of BWX
Technologies, Inc. (NYSE: BWXT). BWXT is a Fortune 1000 and Defense
News Top 100 manufacturing and engineering innovator that provides
safe and effective nuclear solutions for global security, clean
energy, environmental remediation, nuclear medicine and space
exploration. Follow us on Twitter at @BWXT and learn more at
www.bwxt.com.
Forward Looking
Statements
This press release contains "forward-looking statements" for
purposes of the safe harbor provisions of The Private Securities
Litigation Reform Act of 1995, including but not limited to the
statements regarding Fusion Pharmaceuticals Inc.'s (the "Company")
future business and financial performance. For this purpose, any
statements contained herein that are not statements of historical
fact may be deemed forward-looking statements. Without limiting the
foregoing, the words "expect," "plans," "anticipates," "intends,"
"will," and similar expressions are also intended to identify
forward-looking statements, as are expressed or implied statements
with respect to the Company's potential access to actinium-225.
Actual results may differ materially from those indicated by such
forward-looking statements as a result of risks and uncertainties,
including but not limited to the following: there can be no
guarantees that the Company or its partners will advance any
technology relating to actinium-225 to development, to the
regulatory process or to commercialization; management's
expectations could be affected by unexpected regulatory actions or
delays; and uncertainties relating to, or unsuccessful results of,
clinical trials, clinical trial timelines and the medical isotopes
used therein. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results to be materially different from any future results,
performance or achievements expressed or implied by such
statements. These and other risks which may impact management's
expectations are described in greater detail under the heading
"Risk Factors" in the Company's quarterly report on Form 10-Q for
the period ended September 30, 2022,
as filed with the SEC and in any subsequent periodic or current
report that the Company files with the SEC. All forward-looking
statements reflect the Company's estimates only as of the date of
this release (unless another date is indicated) and should not be
relied upon as reflecting the Company's views, expectations, or
beliefs at any date subsequent to the date of this release. While
Fusion may elect to update these forward-looking statements at some
point in the future, it specifically disclaims any obligation to do
so, even if the Company's estimates change.
Fusion Contact:
Amanda Cray
Senior Director of Investor Relations & Corporate
Communications
617-967-0207
cray@fusionpharma.com
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SOURCE Fusion Pharmaceuticals Inc.